BMW warns of significant profit fall in 2019, seeks 12 bln eur in cuts

Cathay Pacific Airways is expecting a significant drop in its first-half results and has also cut capacity due to the coronavirus outbreak, it said on Monday......»»

The shares of Credit Suisse Group AG (NYSE: CS) dropped in early trade in Switzerland on Thursday, even as the company surprised with a significant annual profit for the financial year 2019. read more.....»»

Daimler reported a 64% fall in 2019 net profit, its largest drop in a decade, despite record-high Mercedes-Benz sales as CEO Ola Kaellenius signed off on more than $5.46 billion in legal and restructuring charges......»»

Daimler reported a 64% fall in 2019 net profit, its largest drop in a decade, despite record high Mercedes-Benz sales as CEO Ola Kaellenius signed off on more than 5 billion euros ($5.46 billion) in legal and restructuring charges......»»

Cost cuts helped Nokia to a surprise rise in its October-December underlying profit on Thursday, although the Finnish telecom network equipment maker flagged tough times ahead and said it would not propose a dividend for 2019......»»

Japanese trading house Marubeni Corp on Wednesday cut its full-year net profit forecast by 17% due to a one-off loss on its energy assets and lower profits from U.S. agri-business in the wake of a prolonged U.S.-Sino trade war......»»

Julius Baer will cut 300 jobs this year, its chief executive said on Monday, as the Swiss wealth manager looks to boost profitability after a double-digit percentage earnings fall during 2019......»»

SK Hynix saw its operating profits plunge 87% to KRW2.71 trillion (US$2.28 billion) in 2019, while consolidated revenues decreased 33% on year to KRW26.99 trillion. The company generated net income of KRW2.02 trillion, down 87% from 2018 levels......»»

Swatch Group AG said Thursday that sales in 2019 declined amid political uncertainties as well as the weakening of the U.S. dollar and euro against the Swiss franc......»»

Unilever PLC reported Thursday a fall in net profit for 2019 as sales missed its growth target, and said it would consider options for the future of its global tea business.....»»

German luxury carmaker Daimler issued the latest in a procession of profit warnings on Wednesday, hit by costs related to the industry's diesel emissions scandal, heavy investment in electric vehicles and production problems......»»

FedEx Corp on Tuesday issued its second warning on fiscal 2020 profit after quarterly earnings fell sharply on lackluster global trade and the end of its relationship with Amazon.com, the world's top online retailer......»»

San Francisco will likely face a significant deficit in the fiscal year beginning July 1, 2020 that will require budget cuts to close, said Mayor London Breed. The Mayor announced the worsening financial outlook Tuesday at the Board of Supervisors mee.....»»

For 2019 as a whole, E.ON now expects adjusted net income between EUR1.45 billion and EUR1.65 billion, compared with a previous forecast of between EUR1.4 billion and EUR1.6 billion......»»

Deutsche Telekom said it now expects to pay a dividend of 60 European cents a share, compared with 70 European cents last year, citing unexpectedly high-costs for the mobile spectrum auction in Germany......»»

HSBC said that it expects significant charges in the fourth quarter and “subsequent periods” including possible impairment of goodwill and additional restructuring charges.....»»

Albemarle Corp , the world's largest lithium producer, on Thursday cut its sales and profit forecasts for the year, hit by a continued slump in prices for the white metal, sending its shares down nearly 7% in extended trading......»»

SK Hynix has reported operating profits fell 93% from a year earlier to KRW473 billion (US$403.7 million) in the third quarter of 2019, while revenues declined 40% on year to KRW6.84 trillion......»»

Industrial bellwether Caterpillar Inc fell short of Wall Street estimates for quarterly profit on Wednesday and cut its forecast for overall earnings in 2019, as it reported a 13% slide in Asia sales driven by weakening demand in China......»»

Caterpillar Inc fell short of Wall Street estimates for quarterly profit on Wednesday, hit by weak demand in its construction and mining equipment businesses, and the company cut its 2019 profit forecast, sending its shares down 5%......»»